Stem Cell Therapeutics Corp.

Stem Cell Therapeutics Corp.

April 21, 2011 15:00 ET

Stem Cell Therapeutics Corp. Announces Year End 2010 Financial Results

CALGARY, ALBERTA--(Marketwire - April 21, 2011) - Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) ("SCT" or the "Company") today announced its results for the year ended December 31, 2010. The Company's loss for the year ended December 31, 2010 decreased by $196,791 to $4,460,102 ($0.03 per common share) from the loss of $4,656,893 ($0.03 per common share) reported for the year ended December 31, 2009.

As of December 31, 2010 the working capital of the Company was $2,636,529 ($4,100,869 as of December 31, 2009).

As previously announced on March 31, 2011, subsequent to the year end, the Company completed an equity offering representing gross proceeds of $2,000,000 which significantly strengthened the Company's working capital position.

Dean Peterson, Chairman of SCT commented, "We appreciate the patience of our shareholders as we implement our plans for advancing our company. We have a solid cash position and are maintaining a low burn rate while we continue to advance the development of our programs. We will announce our plans as soon as they are finalized."

About Stem Cell Therapeutics Corp: Stem Cell Therapeutics Corp. is a Canadian public biotechnology company (TSX VENTURE:SSS) focused on the development and commercialization of drug-based therapies to treat central nervous system diseases. SCT is a leader in the development of therapies that utilize drugs to stimulate a patient's own resident stem cells. The Company's programs aim to repair neurological function lost due to disease or injury. SCT's extensive patent portfolio of owned and licensed intellectual property supports the potential expansion into future clinical programs in numerous neurological diseases such as stroke, traumatic brain injury, multiple sclerosis, Huntington's disease, Alzheimer's disease, and ALS.

For further information on Stem Cell Therapeutics Corp., visit

These securities have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons unless an applicable exemption from U.S. registration requirements is available.

Except for historical information, this press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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